Nat West Loan- Please help!!!

TheGaz1982

Hi,

24 months ago, I got a Nat West loan which was for £17,000.00 over 7 years.

I currently pay back £283.00 per month and have made 24 payments = £6,794.00. The total amount payable on this loan is £23,772.00.

I am wanting to clear this loan and get another which would give me an additional £5-7k to spend.

What would be the early settlement fee on the above loan (would it be more or less than £23,772.00 - £6,794.00)?

Who are offering the most competitive loans at the moment? Over say 7 years again, what would payments be?

Also- Nat West increased my building and contents insurance from £22 per month to £45 over a two year period, I have not questioned this yet, but I know that I could go elsewhere for £20-£25 per month. Am I eligible to claim anything back?

Any help would be very much appreciated.

Gareth.

zppp

Re your NW loan, you have to pay 58 days interest for repaying early so it will be slightly higher.

Re competitive loans, have a look here. Rates enitrely depend on your circumstances.

Re the insurance, the anwser is no, you wouldn't be able to claim anything back.

Ive_A_Horse_Outside

Wouldnt say you can claim anything back if you didnt query it at the time. Its like any insurance premium - you arent forced to take it - if you do you pay what their price is. Shop around and change now.

PS - Prob best to focus on clearing your current massive debt before you go looking for more.

Apples2

Ive_A_Horse_Outside wrote: »

PS - Prob best to focus on clearing your current massive debt before you go looking for more.

Agree with this.

OP - have you even began to consider how long you will go to work for no pay whatsoever? How long do you have to work to clear almost £24K?

It comes across almost nonchalant, "pfft, just throw another few grand on top!"